XAUUSD - YehYehTrader - 10/14/2024

Oct 13

For larger timeframes like H4, the price has not yet broken the Swing High and remains in a corrective downtrend. Therefore, we cannot conclude that the market has reversed from bearish to bullish in the short term. Additionally, the price is currently sitting in a zone with previously high trading volume. Although there were a few M15 candles that broke above this price level, they were pushed back down below the previous high-volume area. Furthermore, a bearish structure has formed on the M15 timeframe, indicating a potential opportunity to sell in this area. One thing to note is that if you want further confirmation, switch to a lower timeframe like M5 or M3. If you see a bearish candle accompanied by a sudden increase in volume in this zone, we can enter the trade. Good luck, everyone!